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Shaw Communications Inc. Class B shares traded well below the $40.50-per-share takeover offer made by Rogers Communications Inc. on Monday, in a sign that investors are concerned regulatory scrutiny could get in the way of the deal.
Shaw Class B non-voting shares closed at $33.85 in Toronto – up 41.6 per cent for the day, but $6.65 short of the offer price. However, Shaw Class A voting shares, largely owned by the Shaw family, who have agreed to the deal, traded closer to the takeover price and closed at $38.26, while Rogers Class B shares rose 3.4 per cent to $61.57.
Rogers to acquire Shaw in CA$26 billion deal The legacies of Ted Rogers and JR Shaw are set to merge in the massive deal, with the Shaw family to become one of the largest shareholders of Rogers Communications. March 15, 2021
Rogers Communications has rocked the Canadian business landscape with the announcement of a plan to acquire Shaw Communications in a deal worth $26 billion, effectively merging the legacies of communications industry pioneers Ted Rogers and JR Shaw.
The transaction, which is subject to regulatory approvals, will see Toronto-based Rogers pay $40.50 per share in cash, worth a total of $20 billion, excluding 60% of the shares of Shaw Family Living Trust, which will be exchanged for 23.6 million shares of Rogers. The additional $6 billion estimated in the transaction is from Shaw’s existing debt. Rogers h
Power Producers Extend Canada Loss Streak as Bond Yields Pop
Bloomberg 2/25/2021 Michael Bellusci
(Bloomberg) Some of 2020’s top performing stocks in Canada have lost some luster as bond yields grind higher and recent power woes in Texas add to the drag.
Canada’s utility stocks have fallen for 13 straight sessions, their longest losing streak on record. Rising yields on bonds reduce the attractiveness of utilities as a safe-haven for dividend-oriented investors.
The “dramatic” spike in bond yields has been the primary culprit for the sector’s weakness, said Chris Kerlow, a Toronto-based portfolio manager at Richardson Wealth Ltd. The firm remains positive on Algonquin Power & Utilities Corp. because of its power and renewable exposure.
Power Producers Extend Canada Loss Streak as Bond Yields Pop msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
A shiny toy : The Alberta petrochemical complex at the heart of Brookfield s Inter Pipeline bid
2/24/2021
Inter Pipeline Ltd s ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile $5.64 billion takeover from Brookfield Infrastructure Partners.
Some investors have ruled out a rival bid to Monday s offer for the oil and gas transportation company, and expect Brookfield to snap up Inter just before its newest asset, the Heartland Petrochemical Complex, comes into service.
The C$4 billion Heartland plant near Edmonton, Alberta, is Inter s first petrochemical project and its largest ever capital investment. It is due for completion early next year, several months behind schedule and C$500 million over budget as a result of the COVID-19 pandemic.